often request that trustees hold concentrated positions in illiquid business interests.
That inhibits the trustor
from using such a provision to shelter his or her own assets from future creditors.
19] proposed a CR model for the multi-agent systems, in which the trust information is collected by the trustees, instead of the trustors
Marsh and Dibben (2005) suggest that the fundamental difference between the two is that the former is deliberate whereas the latter is unintentional, and they are both a function of the reasons the trustor
attributes to the trustee's negative behavior (Tomlinson & Mayer, 2009).
We introduce a novel three-player trust game, where player I acts as a trustor
, player 2 embodies both the trustor
's and trustee's characteristics, and player 3 always acts as a trustee.
In his classic Treatise, Locke argues that governments are created by the people as simply trustees of the people's rights; the people are the true trustors
as well as beneficiaries of the fiduciary trust so established.
Feeling trusted may result in a sense of obligation in the trustee to fulfil responsibilities expected by the trustor
, which is an essential motivation to the subordinates' behaviours and will give rise to subordinates' loyalty to their supervisor (Lau, 2007).
Similarly, Mayer, Davis, and Schoorman (1995: 712) defined trust as "the willingness of a party to be vulnerable to the actions of another party based on the expectation that the other will perform a particular action important to the trustor
, irrespective of the ability to monitor or control that other party.
(the person wishing to trust another) can trust a trustee (the person being trusted) to behave in a certain way because it would be costly for the trustee to do otherwise.
a) name and nationality of the trustors
What is key about these observations is that they are based on objective, measurable criteria; hence, they should be prone to consistent inferences on the part of trustors
The most basic argument for respecting donor intent is that trustees have a moral and legal responsibility to respect the wishes of trustors
The board of directors assumes the role of trustee on behalf of the firm's owners (or shareholders), who are both trustors
Integrity-based trust relationships involve the trustors
' adherence to principles that the trustees insist upon, and the trustors
As such, this comment will first explain why South Dakota is regarded as one of the best places to situs a trust, due in large part to its (1) repeal of the Rule Against Perpetuities ("RAP"), (2) lack of income or capital gains tax for individuals or trusts, and (3) favorable trust decanting, directed trust, and asset protection statutes for trustors
and trustees of South Dakota trusts.